Mike Fisher: Weigh in on proposed health care premium increases

This commentary is by Mike Fisher, Vermont’s health care advocate.

For the third year in a row, Blue Cross Blue Shield of Vermont and MVP Health Care are requesting double-digit increases for their premiums in the small group and individual markets. If the Green Mountain Care Board approves these rate requests, Vermonters who buy their health insurance through Vermont Health Connect will once again face higher health care costs in the new year. This presents the Board with the very difficult challenge of balancing affordability for Vermonters and small businesses with the need to ensure that our insurance carriers remain solvent.

We need your help! Your testimony is key to this process. The Green Mountain Care Board cannot find the right balance if it does not hear from Vermonters like you who will be paying these bills. As the state health care advocate, our role in rate review proceedings is to amplify the voices of Vermont health care consumers to ensure the Board understands the impact these proposed rate increases will have on ordinary people.

One notable bright spot for 2025 is that Vermonters who purchase plans directly from  Vermont Health Connect will have more premium tax credits next year than ever before. These subsidies will effectively eliminate the proposed rate increases for most Vermonters  in the individual market and many will be able to get richer plans for the same or less monthly cost.

Unfortunately, this financial help doesn’t exist for the small group market. Which means small employers (under 100 employees) and their employees are particularly exposed to the increased costs in the proposed rates. Whether you and your employer grow food, serve people vacationing in Vermont or provide a human service to people in need in our communities, these proposed rate increases will be felt most by you.

The proposed rates impact the small group and individual markets only. They have no impact on Medicare supplemental, Medicare, Medicaid or other types of health insurance that are not regulated by our state.

These rates are an indication of the costs of our health care delivery and financing system.  Please tell the Board how these increases will impact your life. If you can take a few minutes of your valuable time to weigh in, visit this website to share your story by July 27, 2024, to bring attention to this critical issue.

If you need assistance submitting a public comment, or you want individual advice related to health insurance or access to care issues, contact the Office the Health Care Advocate’s HelpLine at 1-800-917-7787 or visit www.vtlawhelp.org/health to submit an online help request.

Read the story on VTDigger here: Mike Fisher: Weigh in on proposed health care premium increases .